The New American Dream initiative began in 2016, inspired by New American Funding Co-founder and President, Patty Arvielo. The initiative strives to serve all communities through homeownership, education, and community engagement. We are proud to support the dreams of all Americans. In fact, New American Funding is one of the largest privately held retail lenders to Hispanic and Black borrowers.
The New American Dream initiative combines hard work, integrity, a team effort, and continuous learning to increase the rate of Black Homeownership in America. Our purpose is to provide racial equity and build consumer confidence through home buying education, accessibility to credit, and mortgage industry career opportunity awareness to black communities.
The driving force behind the New American Dream Committee is to understand, then overcome, hurdles that Black consumers face throughout the homeownership process. Building awareness and increasing homeownership in Black communities throughout our country is at our core foundation, and we achieve this through homebuyer education, mortgage industry career opportunities, and incredible community involvement.
Committed to Lending $20 billion in new mortgages to Black borrowers over 7 years
Our percentage of purchase lending to Black borrowers is 59.7% more than the industry's percentage*
43% of New American Funding's workforce are minorities
New American Funding's percentage of purchase lending to minorities is 33.3% more than the industry's percentage*
11.2% of New American Funding's 2021 home purchase loan volume was to Black borrowers*
*Based on 2021 HMDA data from ComplianceTech's Lending Patterns HMDA software
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